PPC LIMITED - Voluntary Trading Statement for the Six Months Ended 30 September 2025

Voluntary Trading Statement for the Six Months Ended 30 September 2025

PPC Ltd
(Incorporated in the Republic of South Africa)
(Company registration number 1892/000667/06)
JSE ISIN: ZAE000170049
JSE code: PPC
ZSE code: PPC
("PPC" or "the group")
  
VOLUNTARY TRADING STATEMENT FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2025

PPC is currently finalising its results for the six months ended 30 September 2025 ("the current period").

The current period results have been impacted by unrealised foreign exchange losses relating to the
outstanding foreign exchange contracts ("FECs") entered into by the group for purposes of hedging the U$
dollar ("US$") exposure associated with building the new cement plant in the Western Cape (RK3).
Management, supported by the board of directors, took a decision to de-risk PPC's balance sheet from
rand weakness given the material dollar-based capital expenditure associated with RK3. In the current
period, the rand has strengthened against the US$ giving rise to unrealised foreign exchange losses on
the FECs at 30 September 2025.

Accordingly, a voluntary trading statement is issued regarding the expected earnings per share ("EPS")
and headline earnings per share ("HEPS"), as well as the expected EPS and HEPS adjusted for the
unrealised foreign exchange losses, in the current period.

The following EPS and HEPS are expected:
                                                                  Current period         Prior period
                                                                  Expectation range        Actual

EPS and HEPS (cents)
                                                                   23.50 to 25.75          21.7


EPS and HEPS (cents) – after pro forma adjustment *                27.50 to 29.50          21.7

* adjusting EPS and HEPS for unrealised foreign exchange losses on FECs taken out to hedge US$ exposure on the construction of RK3


Based on the above, EPS and HEPS are expected to be between 8.3% and 18.7% higher than the EPS
and HEPS reported for the six months ended 30 September 2024 ("prior period"). Adjusted EPS and HEPS
are expected to be between 27% and 36% higher than the EPS and HEPS reported for the prior period.

Full details of the group's performance will be contained in the group's unaudited consolidated financial
statements for the six months ended 30 September 2025, which are expected to be released on or about
24 November 2025.

The financial information on which this trading statement is based is the responsibility of the directors of
PPC and has not been reviewed or reported on by the group's independent external auditor.

Dunkeld
10 November 2025

Sponsor
Questco Corporate Advisory Proprietary Limited

Date: 10-11-2025 07:30:00
Produced by the JSE SENS Department. The SENS service is an information dissemination service administered by the JSE Limited ('JSE'). 
The JSE does not, whether expressly, tacitly or implicitly, represent, warrant or in any way guarantee the truth, accuracy or completeness of
 the information published on SENS. The JSE, their officers, employees and agents accept no liability for (or in respect of) any direct, 
indirect, incidental or consequential loss or damage of any kind or nature, howsoever arising, from the use of SENS or the use of, or reliance on,
 information disseminated through SENS.